Defend the Importance of the Accounting Cycle to a Business

Defend the Importance of the Accounting Cycle to a Business

The accounting cycle is a standard practice in financial accounting that allows an organization to record and calculate its financial activities. The accounting cycle is a series of activities accountants use to record transactions, post to the general ledger, make adjustments, close the books and prepare financial documents. The accounting cycle is a process by which a company identifies, analyzes and records its financial and accounting details. For the purposes of a company’s financial records, all transactions are recorded, and those transactions are documented from the moment the transaction begins…

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